Creative Planning continued to hold its position in shares of ITT Inc. (NYSE:ITT) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,823 shares of the conglomerate’s stock at the end of the second quarter. Creative Planning’s holdings in ITT were worth $154,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of ITT by 6.1% in the first quarter. Vanguard Group Inc. now owns 7,940,146 shares of the conglomerate’s stock worth $325,705,000 after buying an additional 454,454 shares in the last quarter. BlackRock Inc. increased its position in shares of ITT by 10,370.9% in the first quarter. BlackRock Inc. now owns 7,282,231 shares of the conglomerate’s stock worth $298,717,000 after buying an additional 7,212,684 shares in the last quarter. Janus Capital Management LLC increased its position in shares of ITT by 4.8% in the first quarter. Janus Capital Management LLC now owns 2,827,936 shares of the conglomerate’s stock worth $116,002,000 after buying an additional 130,595 shares in the last quarter. FMR LLC increased its position in shares of ITT by 6.7% in the first quarter. FMR LLC now owns 2,524,190 shares of the conglomerate’s stock worth $103,542,000 after buying an additional 159,163 shares in the last quarter. Finally, State Street Corp increased its position in shares of ITT by 1.2% in the first quarter. State Street Corp now owns 2,304,207 shares of the conglomerate’s stock worth $94,518,000 after buying an additional 26,345 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.
Shares of ITT Inc. (NYSE ITT) traded up 0.52% during mid-day trading on Friday, reaching $40.33. The company had a trading volume of 144,546 shares. The company has a market capitalization of $3.55 billion, a P/E ratio of 17.27 and a beta of 1.47. The firm has a 50-day moving average of $40.78 and a 200-day moving average of $40.58. ITT Inc. has a 12-month low of $32.46 and a 12-month high of $44.00.
ITT (NYSE:ITT) last released its earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. ITT had a net margin of 8.64% and a return on equity of 14.17%. The firm had revenue of $630.90 million during the quarter, compared to analyst estimates of $628.65 million. During the same period last year, the business earned $0.67 earnings per share. The business’s revenue was up .8% on a year-over-year basis. On average, equities analysts anticipate that ITT Inc. will post $2.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be given a dividend of $0.128 per share. This represents a $0.51 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, September 8th. ITT’s dividend payout ratio (DPR) is currently 21.70%.
ITT has been the topic of a number of recent analyst reports. BidaskClub downgraded ITT from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research downgraded ITT from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Goldman Sachs Group, Inc. (The) downgraded ITT from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $46.00 to $43.00 in a research note on Tuesday, June 6th. ValuEngine raised ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Stifel Nicolaus boosted their price objective on ITT from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $46.57.
ITT Company Profile
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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